Tax implications on resale of property

Mamta Kochar (3 Points)

13 October 2024  

I have sold a property held for 20 years at 22 lacs, I beleive I am liable to pay 12.5% long term capital gain tax.

Suppose I invest in a new property and buy residential plot of 22 lacs so I beleive I don't have to pay abovesaid 12.5% . If I sell again new property at 23 lacs within a month will it fall under short term capital gains? Do I just need to pay tax for only 1 lacs ? Please suggest my tax implications